LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

Lincoln Life & Annuity Variable Annuity Account H

American Legacy^® Fusion

Supplement dated November 16, 2023 to the

Summary Prospectus for New Investors dated May 1, 2023

This supplement to the summary prospectus for your individual variable annuity contract describes revisions to i4LIFE^® Advantage, an optional variable payout option available under your Contract. These revisions apply to all i4LIFE^® Advantage elections on and after November 20, 2023. All other provisions in your prospectus remain unchanged.

OVERVIEW

The following changes will apply to all elections of i4LIFE^® Advantage beginning November 20, 2023:

• The minimum Access Period selected must be no less than 10 years;

• The available Assumed Investment Return (AIR) rates are limited to 3% and 4%; and

• The annuity factor used to calculate the Regular Income Payment will no longer include gender as a component.

Please keep this supplement for future reference.

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

Lincoln Life & Annuity Variable Annuity Account H

American Legacy^® Fusion

Supplement dated November 16, 2023 to the

Summary Prospectus for New Investors dated May 1, 2023

This supplement outlines changes to the summary prospectus for your variable annuity contract. All other provisions in your prospectus remain unchanged.

OVERVIEW

The following changes will apply beginning December 18, 2023:

• Living Benefit Riders. Lincoln Lifetime Income^SM Advantage 2.0 (Managed Risk). Beginning December 18, 2023, the Contractowner/Annuitant must be age 80 or younger (younger of your or your spouse) at the time the rider is elected.

• Annuity Payouts. Beginning December 18, 2023, when you apply for a contract, you may select any Annuity Commencement Date that is prior to the Annuitant’s 90^th birthday.

Please keep this supplement with your prospectus for future reference.